Expeditors' First-Quarter Profit Declines

5/3/2012 9:15:00 AM
Write a Letter to the Editor

Print This

Logistics firm Expeditors International of Washington said its first-quarter profit declined from a year ago as air freight volumes fell.

Net income decreased to $76.7 million, or 36 cents a share, from $91.2 million, or 42 cents, a year ago.

Revenue slipped 3% from a year ago to $1.41 billion, the company said in a statement late Wednesday.

Year-over-year air freight volume declined 9%, while ocean freight volume gained 1%.

“Our largest customers are being very cautious about the amount of airfreight they are using this year,� CEO Peter Rose said in a statement.

The quarter included a $5.5 million fine levied by the European Commission in March in connection with air freight price-fixing charges, which Expeditors denied.

“As we said then, we did not enter into any agreement that affected customer pricing in any way,� Rose said.

Seattle-based Expeditors International of Washington is ranked No. 12 on the Transport Topics Logistics 50 listing of North American logistics companies.

Follow Transport Topics on RSS Twitter Facebook

 Print This

© 2012, Transport Topics Publishing Group. All rights reserved.




Con-way’s First-Quarter Profit Rises (5/2/2012 1:00:00 PM)
Frozen Food Express’ 1Q Loss Narrows (5/2/2012 9:00:00 AM)
Opinion: Just Who Is Qualifying Whom? (4/30/2012 8:00:00 AM)
Rethinking Foreign Costs Spurs Manufacturing in U.S. (4/30/2012 4:30:00 AM)
TransForce Earnings, Revenue Improve (4/27/2012 12:00:00 PM)
Echo Global Logistics’ 1Q Income Rises (4/27/2012 8:00:00 AM)

I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.